Common use of General Provisions Regarding Accounts Clause in Contracts

General Provisions Regarding Accounts. (a) So long as no Default or Event of Default shall have occurred and be continuing, all or a portion of the funds in the Collection Account shall be invested in Eligible Investments and reinvested by the Indenture Trustee at the written direction of the Servicer, subject to the provisions of Section 5.01 of the Sale and Servicing Agreement. All income or other gain from investments of moneys deposited in the Collection Account shall be deposited by the Indenture Trustee in the Collection Account and paid to the Servicer as servicing compensation on each Payment Date, and any loss resulting from such investments in excess of such income or gain (against which such losses will first be applied) shall be charged to such account. The Servicer will not direct the Indenture Trustee to make any investment of any funds or to sell any investment held in the Collection Account unless the security interest granted and perfected in such account will continue to be perfected in such investment or the proceeds of such sale, in either case without any further action by any Person, and, in connection with any direction to the Indenture Trustee to make any such investment or sale, if requested by the Indenture Trustee, the Servicer shall deliver to the Indenture Trustee an Opinion of Counsel, acceptable to the Indenture Trustee, to such effect.

General Provisions Regarding Accounts. (a) So long as no Default or Event of Default shall have occurred and be continuing, all or a portion of the funds in the Collection Account shall be invested in Eligible Investments and reinvested by the Indenture Trustee at the written direction of the Servicer, subject to the provisions of Section 5.01 of the Sale and Servicing Agreement. All income or other gain from investments of moneys deposited in the Collection Account shall be deposited by the Indenture Trustee in the Collection Account and paid to the Servicer as servicing compensation on each Payment Dateany Business Day on or after which such amount is deposited in the Collection Account, and any loss resulting from such investments in excess of such income or gain (against which such losses will first be applied) shall be charged to such account. The Servicer will not direct the Indenture Trustee Trustee, and the Issuer shall cause the Servicer not, to make any investment of any funds or to sell any investment held in the Collection Account unless the security interest granted Granted and perfected in such account will continue to be perfected in such investment or the proceeds of such sale, in either case without any further action by any Person, and, in connection with any direction to the Indenture Trustee to make any such investment or sale, if requested by the Indenture Trustee, the Servicer shall deliver to the Indenture Trustee an Opinion of Counsel, acceptable to the Indenture Trustee, to such effect.

General Provisions Regarding Accounts. (a) So long as no Default or Event of Default shall have occurred and be continuing, all or a portion of the funds in the Collection Account Trust Accounts shall be invested in Eligible Investments and reinvested by the Indenture Trustee at the written direction of the Servicer, subject to accordance with the provisions of Section 5.01 7.03 of the Sale Transfer and Servicing Agreement. All Except as otherwise provided in Section 7.03 of the Transfer and Servicing Agreement, all income or other gain from investments of moneys deposited in the Collection Account such Trust Accounts shall be deposited by the Indenture Trustee in the Collection Account and paid to the Servicer as servicing compensation on each Payment DateAccount, and any loss resulting from such investments in excess of such income or gain (against which such losses will first be applied) shall be charged to the related Trust Account unless the Issuer (or the Servicer on behalf of the Issuer) deposits funds to such accountTrust Account to offset any loss realized. The Servicer Issuer will not direct the Indenture Trustee or permit the Servicer to make any investment of any funds or to sell any investment held in any of the Collection Account Trust Accounts unless the security interest granted and perfected in such account will continue to be perfected in such investment or the proceeds of such sale, in either case without any further action by any Person, and, in connection with any direction to the Indenture Trustee to make any such investment or sale, if requested by the Indenture Trustee, the Servicer Issuer shall deliver to the Indenture Trustee an Opinion of Counsel, acceptable to the Indenture Trustee, to such effect.

General Provisions Regarding Accounts. (a) So long as no Default or Event of Default shall have occurred and be continuing, all or a portion of the funds in the Collection Account shall be invested in Eligible Investments and reinvested by the Indenture Trustee at the written direction of the Servicer, subject to the provisions of Section 5.01 of the Sale and Servicing Agreement. All income or other gain from investments of moneys deposited in the Collection Account shall be deposited by the Indenture Trustee in the Collection Account and paid to the Servicer as servicing compensation on each Payment Dateany Business Day on or after which such amount is deposited in the Collection Account, and any loss resulting from such investments in excess of such income or gain (against which such losses will first be applied) shall be charged to such account. The Servicer will not direct the Indenture Trustee Trustee, and the Issuer shall cause the Servicer not, to make any investment of any funds or to sell any investment held in the Collection Account unless the security interest granted Granted and perfected in such account will continue to be perfected in such investment or the proceeds of such sale, in either case without any further action by any Person, and, in connection with any direction to the Indenture Trustee to make any such investment or sale, if requested by the Indenture Trustee, the Servicer shall deliver to the Indenture Trustee an Opinion of Counsel, reasonably acceptable to the Indenture Trustee, to such effect.

General Provisions Regarding Accounts. (a) So long as no Default or Event of Default shall have occurred and be continuing, all or a portion of the funds in the Collection Account Accounts shall be invested in Eligible Investments and reinvested by the Indenture Trustee at the written direction of the Servicer, subject to the provisions of Section 5.01 Servicer in Permitted Investments as provided in Sections 4.01 and 4.07 of the Sale and Servicing Agreement. All income or other gain (net of losses and investment expenses) from investments of moneys monies deposited in the Collection Account Accounts shall be deposited withdrawn by the Indenture Trustee Trustee, either directly or through the Paying Agent, from such accounts and distributed (but only under the circumstances set forth in the Collection Account Sale and paid to Servicing Agreement) as provided in Section 4.01 or 4.06 of the Servicer as servicing compensation on each Payment Date, Sale and any loss resulting from such investments in excess of such income or gain (against which such losses will first be applied) shall be charged to such accountServicing Agreement. The Servicer will shall not direct the Indenture Trustee to make any investment of any funds or to sell any investment held in any of the Collection Account Accounts unless the security interest granted and perfected in such account will continue to be perfected in such investment or the proceeds of such sale, in either case without any further action by any Person, and, in connection with any direction to the Indenture Trustee to make any such investment or sale, if requested by the Indenture Trustee, the Servicer Issuer shall deliver to the Indenture Trustee an Opinion of Counsel, acceptable to the Indenture Trustee, to such effect.

General Provisions Regarding Accounts. (a) So long as no Default or Event of Default shall have occurred and be continuing, all or a portion of the funds in the Collection Account Trust Accounts shall be invested in Eligible Investments and reinvested by the Indenture Trustee at the written direction of the Servicerupon Issuer Order, subject to the provisions of Section 5.01 5.01(b) of the Sale Transfer and Servicing AgreementAgreement (which Issuer Order may be upon direction of the Servicer). All income or other gain from investments of moneys deposited in the Collection Account Trust Accounts shall be deposited by the Indenture Trustee in the Collection Account and paid to the Servicer as servicing compensation on each Payment DateAccount, and any loss resulting from such investments in excess of such income or gain (against which such losses will first be applied) shall be charged to such account. The Servicer Issuer will not direct the Indenture Trustee to make any investment of any funds or to sell any investment held in any of the Collection Account Trust Accounts unless the security interest granted and perfected in such account will continue to be perfected in such investment or the proceeds of such sale, in either case without any further action by any Person, and, in connection with any direction to the Indenture Trustee to make any such investment or sale, if requested by the Indenture Trustee, the Servicer Issuer shall deliver to the Indenture Trustee an Opinion of Counsel, acceptable to the Indenture Trustee, to such effect.

General Provisions Regarding Accounts. (a) So long as no Default or Event of Default shall have occurred and be continuing, all or a portion of the funds in the Collection Account Trust Accounts shall be invested in Eligible Investments and reinvested by the Indenture Trustee at the written direction of the Servicer, subject to the provisions of Section 5.01 Servicer in Eligible Investments as provided in Sections 3.1 and 3.6(b) of the Sale and Servicing Allocation Agreement. All income or other gain (net of losses and investment expenses) from investments of moneys monies deposited in the Collection Account Trust Accounts shall be deposited withdrawn by the Indenture Trustee from such accounts and distributed (but only under the circumstances set forth in the Collection Account Sale and paid to Allocation Agreement) as provided in Sections 3.1 and 3.6(d) of the Servicer as servicing compensation on each Payment Date, Sale and any loss resulting from such investments in excess of such income or gain (against which such losses will first be applied) shall be charged to such accountAllocation Agreement. The Servicer will shall not direct the Indenture Trustee to make any investment of any funds or to sell any investment held in any of the Collection Account Trust Accounts unless the security interest granted Granted and perfected in such account will continue to be perfected in such investment or the proceeds of such sale, in either case without any further action by any Person, and, in connection with any direction to the Indenture Trustee to make any such investment or sale, if requested by the Indenture Trustee, the Servicer Issuer shall deliver to the Indenture Trustee an Opinion of Counsel, acceptable to the Indenture Trustee, to such effect.

General Provisions Regarding Accounts. (a) So long as no Default or Event of Default shall have occurred and be continuing, all or a portion of the funds in the Collection Account Trust Accounts shall be invested in Eligible Investments and reinvested by the Indenture Trustee at the written direction of the Servicerupon Issuer Order, subject to the provisions of Section 5.01 8.01(b); PROVIDED, HOWEVER, that funds in the Pre-Funding Account shall be invested only in Eligible Investments described in clause (a) of the Sale and Servicing Agreementdefinition thereof. All income or other gain from investments of moneys deposited in the Collection Account Trust Accounts shall be deposited by the Indenture Trustee in the Collection Account and paid to the Servicer as servicing compensation on each Payment DateAccount, and any loss resulting from such investments in excess of such income or gain (against which such losses will first be applied) shall be charged to such accountTrust Account. The Servicer Issuer will not direct the Indenture Trustee to make any investment of any funds or to sell any investment held in any of the Collection Account Trust Accounts unless the security interest granted and perfected in such account will continue to be perfected in such investment or the proceeds of such sale, in either case without any further action by any Person, and, in connection with any direction to the Indenture Trustee to make any such investment or sale, if requested by the Indenture Trustee, the Servicer Issuer shall deliver to the Indenture Trustee an Opinion of Counsel, acceptable to the Indenture Trustee, to such effect.

General Provisions Regarding Accounts. (a) So long as no Unmatured Event of Default or Event of Default shall have occurred and be continuing, all or a portion of the funds in the Collection Account shall be invested in Eligible Investments and reinvested by the Indenture Trustee at the written direction of the Servicer, subject to the provisions of Servicer in Permitted Investments specified in such written direction as provided in Section 5.01 4.1 of the Sale and Servicing Agreement. All No income or other gain (net of losses and investment expenses) from investments of moneys monies deposited in the Collection Account shall be deposited included in Available Funds and all such income or other gain shall be withdrawn by the Indenture Trustee in the Collection Account and paid to the Servicer as servicing compensation from such account on each Payment Date, Date and any loss resulting from such investments in excess of such income or gain (against which such losses will first be applied) shall be charged paid by the Indenture Trustee to such accountor at the direction of the Servicer. The Servicer will shall not direct the Indenture Trustee to make any investment of any funds or to sell any investment held in any of the Collection Account Trust Accounts unless the security interest granted Granted and perfected in such account will continue to be perfected in such investment or the proceeds of such sale, in either case without any further action by any Person, and, in connection with any direction to the Indenture Trustee to make any such investment or sale, if requested by the Indenture Trustee, the Servicer Issuer shall deliver to the Indenture Trustee an Opinion of Counsel, acceptable to the Indenture Trustee, to such effect.

General Provisions Regarding Accounts. (a) So long as no Default or Event of Default shall have occurred and be continuing, all or a portion of the funds in the Collection Account Trust Accounts shall be invested in Eligible Investments and reinvested by the Indenture Trustee at the written direction of the Servicerupon Issuer Order, subject to the provisions of Section 5.01 5.01(b) of the Sale Transfer and Servicing AgreementAgreement (which Issuer Order may be upon direction of the Servicer). All income or other gain from investments of moneys deposited in the Collection Account Trust Accounts shall be deposited by 46 the Indenture Trustee in the Collection Account and paid to the Servicer as servicing compensation on each Payment DateAccount, and any loss resulting from such investments in excess of such income or gain (against which such losses will first be applied) shall be charged to such account. The Servicer Issuer will not direct the Indenture Trustee to make any investment of any funds or to sell any investment held in any of the Collection Account Trust Accounts unless the security interest granted and perfected in such account will continue to be perfected in such investment or the proceeds of such sale, in either case without any further action by any Person, and, in connection with any direction to the Indenture Trustee to make any such investment or sale, if requested by the Indenture Trustee, the Servicer Issuer shall deliver to the Indenture Trustee an Opinion of Counsel, acceptable to the Indenture Trustee, to such effect.

General Provisions Regarding Accounts. (a) So long as no Unmatured Event of Default or Event of Default shall have occurred and be continuing, all or a portion of the funds in the Collection Account shall be invested in Eligible Investments and reinvested by the Indenture Trustee at the written direction of the Servicer, subject to the provisions of Servicer in Permitted Investments specified in such written direction as provided in Section 5.01 4.1 of the Sale and Servicing Agreement. All No income or other gain (net of losses and investment expenses) from investments of moneys monies deposited in the Collection Account shall be deposited included in Available Funds and all such income or other gain shall be withdrawn by the Indenture Trustee in the Collection Account and paid to the Servicer as servicing compensation from such account on each Payment Date, Date and any loss resulting from such investments in excess of such income or gain (against which such losses will first be applied) shall be charged paid by the Indenture Trustee to such accountor at the direction of the Servicer. The Servicer will shall not direct the Indenture Trustee to make any investment of any funds or to sell any investment held in any of the Collection Account Trust Accounts unless the security interest granted 43 Indenture 2007-1 Granted and perfected in such account will continue to be perfected in such investment or the proceeds of such sale, in either case without any further action by any Person, and, in connection with any direction to the Indenture Trustee to make any such investment or sale, if requested by the Indenture Trustee, the Servicer Issuer shall deliver to the Indenture Trustee an Opinion of Counsel, acceptable to the Indenture Trustee, to such effect.